The Mamata Banerjee government has permitted Shapoorji Pallonji Group to sell 15 acres of its 50 acre land at Action Area III of New Town-Rajarjat to information technology giant Cognizant Technology Solutions (CTS). Significantly, this 50-acre land parcel owned by Bengal Shapoorji Developers, a subsidiary of Shapoorji Pallonji group, enjoys special economic zone (SEZ) status. The group… Read More »
Private equity group Blackstone; a consortium of sovereign funds of Abu Dhabi, Qatar together with Kotak Realty Fund; and GIC of Singapore are the final three shortlisted candidates in race to pick up the entire 40% stake held by DLF promoters in the office rental arm -DLF Cyber City Developers Limited (DCCDL). The three have submitted… Read More »
Real estate firm Raheja Universal Ltd is looking to sell land parcels, totaling over 600 acres located outside the Mumbai Metropolitan Region (MMR), to fund its forthcoming projects as it focuses its business in Mumbai and its suburbs. MMR refers to the region in Maharashtra consisting of Mumbai and its neighbouring towns, including Thane, Navi Mumbai… Read More »
Some commercial property buyers are invoking “Brexit clauses” written into contracts agreed before Britain voted to leave the European Union, allowing them to walk away from the deals. In other cases buyers have yet to exercise such get-out clauses but are keeping the option open to try to renegotiate the price down, according to property lawyers… Read More »
China Vanke Co Ltd said it and partners are in talks to acquire some commercial property firms from Blackstone Group LP and other third parties for 12.9 billion yuan ($1.9 billion). The disclosure is a more detailed response by Vanke, currently mired in a high-profile corporate power struggle, to enquiries from the Shenzhen bourse after criticism… Read More »
India’s largest real estate developer DLF has shortlisted six potential buyers for 40% stake of the promoters in its rental arm DLF Cyber City Developers Limited that is expected to sell for about Rs 13,000 crore, two people aware of the development said. The company had invited expressions of interest and received 11 offers over the… Read More »
If one looks at the trends of Real Estate in the past five years, no city has inspired such commercial property demand as Bengaluru. So much so, the demand today is more than the supply. Its reputation as the Silicon Valley of India remains intact with a number of tech giants as well as emerging… Read More »
Lenders of Kingfisher Airlines have one again put on block Kingfisher House seeking at least Rs 135 crore. Last time, when banks attempted to sell the headquarters of the defunct airlines, at a reserve price of Rs 150 crore, it did not receive a single bid. Kingfisher owes Rs 7000 crore to lenders. Lenders have fixed August… Read More »
Commercial or residential? Which makes for a better real estate investment bet? Most of us prefer residential, but commercial has its own rewards. Experts feel commercial property ensures higher return over residentials, while giving a steady flow of income. India remains a preferred back office destination for much of the developed world. With the economy showing… Read More »
Reforms in FDI policy and relaxation of norms in Real Estate Investment Trusts (REITs) will benefit the realty sector, especially the commercial segment, a property consultant today said. Earlier this week, the government unleashed a second wave of FDI reforms, allowing 100 per cent inflows in civil aviation and food processing sectors while easing norms in… Read More »